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Monday, 28 November 2016

Wall St: Retail stock rally leaves few bargains for investors

Wall Street expects consumers to open their wallets a little wider this holiday shopping season but bargains among red-hot retail stocks could be hard to find, especially as profit growth proves elusive for many big names. Retailers, including Best Buy , Kohls Corp and Macy's , that were pummeled in last year's disappointing holiday quarter have seen their shares surge recently on expectations that the worst is over, and that an improved economy will send more shoppers into their stores. Those gains in recent days have helped push the S&P 500 to a record high.